Next Article in Journal
Innovative Corporate Initiatives to Reduce Climate Risk: Lessons from East Asia
Next Article in Special Issue
Market Intelligence Precursors for the Entrepreneurial Resilience Approach: The Case of the Romanian Eco-Label Product Retailers
Previous Article in Journal
Could Black Be the New Gold? Design-Driven Challenges in New Sustainable Luxury Materials for Jewelry
Previous Article in Special Issue
A Chaos Theory Perspective on International Migration
Open AccessArticle

Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries

Department of Finance, The Bucharest University of Economic Studies, 6 Piata Romana, 010374 Bucharest, Romania
*
Author to whom correspondence should be addressed.
Sustainability 2018, 10(1), 4; https://doi.org/10.3390/su10010004
Received: 16 November 2017 / Revised: 18 December 2017 / Accepted: 19 December 2017 / Published: 21 December 2017
This study aims at empirically investigating the drivers of sustainable economic growth in EU-28 countries. By means of panel data regression models, in the form of fixed and random effects models, alongside system generalized method of moments, we examine several drivers of real gross domestic product (GDP) growth rate, as follows: higher education, business environment, infrastructure, technology, communications, and media, population lifestyle, and demographic changes. As regards higher education, the empirical results show that expenditure per student in higher education and traditional 18–22 year-old students are positively linked with sustainable economic growth, whereas science and technology graduates negatively influence real GDP growth. In terms of business environment, total expenditure on research and development and employment rates of recent graduates contributes to sustainable development, but corruption perceptions index revealed a negative association with economic growth. As well, the results provide support for a negative influence of infrastructure abreast technological measures on economic growth. Besides, we found a negative connection between old-age dependency ratio and sustainable economic growth. View Full-Text
Keywords: sustainable development; economic growth; fixed and random effects models; system GMM; EU-28 sustainable development; economic growth; fixed and random effects models; system GMM; EU-28
MDPI and ACS Style

Armeanu, D.Ş.; Vintilă, G.; Gherghina, Ş.C. Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries. Sustainability 2018, 10, 4.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Search more from Scilit
 
Search
Back to TopTop